Finland: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Finland
IMF Staff Country Reports, September 2, 2010
Source details
- Canonical URL
- Finland: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Finland
Other formats
Bibliographic details
- Published: September 2, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455207725.002
Macroeconomic impact and recession
- Finland experienced the worst recession in the euro area owing to the high dependence of its exports on countries and commodities.
- Output and production were significantly affected (see subjects: Output gap, Production).
Financial sector vulnerabilities and supervisory response
- Executive Directors encouraged authorities to focus on:
- improving bank cost efficiency,
- preventing excessive risk taking,
- limiting liquidity and funding risks.
- Directors welcomed the establishment of the Nordic-Baltic Stability Group.
- Directors stressed the need to strengthen the effectiveness of cross-border supervision and crisis management arrangements.
Fiscal policy, sustainability, and consolidation
- Directors welcomed structural reforms and emphasized the need for a strong fiscal consolidation to secure fiscal sustainability.
- Subjects highlighted: Fiscal policy, Fiscal stance, Fiscal sustainability, Public debt, Expenditure.
Keywords and topical focus
- Banking
- Expenditure
- Fiscal policy
- Fiscal stance
- Fiscal sustainability
- Output gap
- Production
- Public debt
- Additional keywords: CR, deficit, Europe, Global, headline deficit, IMF staff estimate, ISCR, liability positions vis-à-vis nonresident, projection, staff appraisal, threshold of the SGP
Source: Finland: 2010 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Finland (IMF Staff Country Reports, 2010), September 2, 2010.